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Questions For Aqua Wallet Users
727 sats \ 28 comments \ @siggy47 30 Dec 2024 bitcoin
I just listened to Samson Mow talk up the Aqua Wallet, which he has an incentive to promote. I admit this whole shitcoin on bitcoin thing has been off my radar until now. I have some questions for those who use it:
  1. Do you actually transact in liquid?
  2. What are its best use cases?
  3. Drawbacks and advantages( beyond custodial to block stream)?
  4. Do you just ignore the stable coins, or do you accept that stable coins can play a part in the bitcoin ecosystem?
  5. Mow argues that ignoring stable coins hurts bitcoin adoption. Do you agree, or is this just shitcoinery?
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211 sats \ 1 reply \ @njbass 30 Dec 2024
  1. Yes
  2. All my kids have one, seed can be set to green wallet, and I can easily send them their allowance through it.
  3. I'm a fan of liquid network and tend to blow off the super maxi comments as liquid doesn't deal with failed transactions like lightning often does, privacy aspects are nice, and once you have amassed a decent amount, you can move those liquid sats back to on chain without dealing with coinjoins as it will poop out a nice UTXO for you.
  4. One of the first QA requests I had when they went open source was that they would give the option to remove the tether wallet from the dashboard. They implemented it. 5.I don't care about stable coins, but his point is that providing additional off ramps for fiat opens the door to easier access to bitcoin. Liquid network provides the privacy of transaction amount as well as asset type, so people who are wanting to get rid of their shipcoins and trade it into liquid don't have to go kyc first to fiat, capital gains, then buy through exchange btc. makes things easier.
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0 sats \ 0 replies \ @ndBlindDog 30 Dec 2024 freebie
I use Aqua and Liquid with my kid as well. Liquid for fees and mostly just to play with it. It provides the kid the same basic workflow as onchain so she is learning that process more or less.
114 sats \ 3 replies \ @denlillaapan 30 Dec 2024
  1. No
  2. Just ordinary on-chain mobile wallet, (DarthCoin's second pillar, medium-size on-chained on mobile, #800714)
  3. nothing major; slick, easy to use. The promise of Liquid/Lightning in case I want it/should need it is reassuring.
  4. Yes, totally ignored.
  5. Nah. Definitely not on a personal level.
Again, if I were in jurisdictions that routinely operate on stablecoins, I'd probably find those aspects more useful. For now, I just ignore it
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0 sats \ 2 replies \ @DarthCoin 30 Dec 2024
why would you have to put yourself under a "jurisdiction" ?
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11 sats \ 1 reply \ @denlillaapan 30 Dec 2024
I meant more specifically if I were hanging out in Argentina or some African country where Mow thinks stablecoins are useful
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200 sats \ 0 replies \ @DarthCoin 30 Dec 2024
Not even there... Stablecoins are just the preparations for CBDCs...
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222 sats \ 1 reply \ @DarthCoin 30 Dec 2024
  1. Yes is a shitcoinery using Liquid and stablecoin.
Because Blockstream is paying to do the liquid shill... to many influencers.

Let's recap WTf is Liquid:

Liquid is not a L2... is a sidechain. Liquid was a good intention long time ago. It was coming up early in the block size wars as a proposal for exchanges, to have some kind of interoperable network to move funds between them, faster and cheaper than BTC onchain, but still using BTC. I kinda agree with that use case. A federation that is moving funds privately between them.
But then LN was launched and come in force and Liquid kinda lost the use case. The block size war was also over, segwit in place and onchain mempool liberated, so even the exchanges that were excited about Liquid, they were still preferring to do it over onchain as usual.
LN got more and more grip and Liquid was slowly forgotten and became useless. Now Blockstream, want to push people into using it as it would be a "cheapest and fastest" way instead of LN, because they do not want to see it terminated (as nobody is using it). In the end they put a lot of effort and money to build it.
IMHO they should go back to the original idea to be used for private entities and not pushed to large masses of users.
Now all those onchain maxis want to use Liquid instead of preparing in time, with calm new LN channels. That's why this crazy mania with Liquid. But as usual when the onchain fees are going down, Liquid use is going to meaningless until zero.
A Liquid TLDR:
The only use case today, for Liquid is that shitcoin ordinals people will move their shit onto Liquid.
What IF.... Blockstream is in fact the hidden funding source for all this crap with ordinals, in order to push more bitcoiners to use Liquid?

SO PLEASE GIVE ME A BREAK WITH ALL THIS LIQUID CRAP

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21 sats \ 0 replies \ @siggy47 OP 30 Dec 2024
Great reply. It's really a post.
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73 sats \ 2 replies \ @justin_shocknet 30 Dec 2024
It's only purpose is to provide custodial UX with some deniability if the regulator comes knocking, there's no advantages to the user.
For the user its actually the worst combination of trade-offs, custodial risk with key holding responsibility and swap fees... they make an absolute killing on lost keys and swaps.
This is a copycat of how it works in the ETH ecosystem. There's a ton of money in fake L2's there, which is why Ark and other fake L2s are getting shilled so hard. The scammers behind the fake L2's are who's astroturfing new op_codes to make them appear legitimate.
This is exactly what's coming to Bitcoin unless Bitcoiners resolutely tell forkers they're scammers and to gfy:
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49 sats \ 1 reply \ @siggy47 OP 30 Dec 2024
Thanks for the reply. You brought up another question that I had about Ark. Can you explain in more detail why you see it as a fake L2?
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196 sats \ 0 replies \ @justin_shocknet 30 Dec 2024
All fake L2's including Ark work similarly because they face the same fundamental limitations of reality that make Bitcoin (and Lightning) the emergent systems they are.
Unlike Bitcoin, fake L2's are centrally coordinated and require an easily-gamed quorum of super-users (effectively proof-of-stake) to enforce what amounts to a "peg" amount of real Bitcoin.
Because they're really just apps signing arbitrary data, they downgrade from the security of Bitcoin consensus to app-layer rules which are easily gamed. They also lack the transparency of a singular custodian. (Again they exist only to scam the regulator if he comes knocking and generate fees)
Historically sidechains have been the fake L2 of record, but since sidechains have had over a decade to prove themselves useless, scammers need a narrative shift. VTXO's locked in scripts are the new "sidechain", there's a few of them now using this nomenclature. VTXO is a neologism/affinity scam to resemble UTXO for the purpose of deceiving the retarded.
Fake L2's also can't have a real network effect because they're centrally coordinated, users spending from one sidechain or ark to another need to swap into real Bitcoin and out again, incurring a swap fee with each coordinator.
Contrast all this to a real L2 like Lightning that uses the base chain for security. Since it has no coordinators, it makes the protocol ubiquitous and network-effecty. The trade-off Lightning makes to the chain is online-ness for chain defense, and whether or not you can actually afford to use the real chain. This is the wedge scammers try to drive in Lightning, affordability and online-ness for which there are no solutions, only trade-offs.
This is also why fake L2's push the narrative of Lightning being relegated to the glue between fake L2's, because they aren't Bitcoin, so they need a way to get your Bitcoin and generate swap fees.
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62 sats \ 2 replies \ @BlokchainB 30 Dec 2024
  1. I maybe do about 1 to 3 liquid transactions per month
  2. The main use case for me is stacking small utxos and once they become big enough pegging out of liquid back to on chain. Also I use it hold my only NFT (which is my user profile picture) and to get shares of companies using their KYC process.
  3. Drawbacks are getting hate from maxis, Not running my own liquid node, no one using or accepting L-BTC en mass.
  4. I don’t ignore stablecoins. I don’t need them so I don’t hold any on the wallet but I see why others in more chaotic situations might want them. I think stablecoins will help those trying to climb out the economic cellar due to being born in the wrong place. If I was living in China I would much rather hold a tether USD than a Yuan. People in the west with full bellies of food and heat to keep them warm can denounce stables all they want but if they were starving and the vendor took stablecoins as means of payment all the LARPs would cave and use stablecoins in a heartbeat!
  5. Not for the rich it doesn’t. The poor it does. The rich don’t care about stablecoins. Most of the people in the developed nations just use stables to Degenerate gambling but I also think you can’t be a true free market capitalist and hate stablecoins. They solved a problem and are profiting massively from it.
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109 sats \ 0 replies \ @Bell_curve 30 Dec 2024
Good response
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82 sats \ 0 replies \ @Yogi 31 Dec 2024
Wonderful point / Response
I agree with a lot of your points here. Just like Jack's plan with Strike and Stables. He said that there was an honest need for them in many developing countries, whereas in places like the US you can survive and live abundantly just on bitcoin and credit if needed.
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52 sats \ 0 replies \ @Manikese 30 Dec 2024
I use Aqua. It is amazing.
I do use liquid for personal use but not for buying/selling things.
I tried the USDT stablecoin but then was stuck with it because the shitty Ethereum network doesn’t allow USDT to move between networks (Liquid vs Ethereum).
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52 sats \ 0 replies \ @grayruby 30 Dec 2024
I have an aqua wallet (in Botev Plovdiv mode of course) but rarely use it.
  1. No but I have
  2. Wallet is easy to use and makes it easy to swap in and out of liquid.
  3. Other than being custodial I am not sure as I don't use it much at all.
  4. Ignore. But I understand there are many parts of the world where stable coins might have a use case. Ultimately it doesn't matter what I think about stablecoins if there is demand for them they will play a role in the bitcoin ecosystem.
  5. Yes and Yes. Yes, I can see this side of the argument where someone in an emerging market having a wallet that gives them access to receiving stablecoin payments and being able to easily swap them to Bitcoin could help adoption. Yes it is also shitcoinery.
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52 sats \ 0 replies \ @nyan 30 Dec 2024
Does anyone know whether the federation has backdoors to read confidential transactions on liquid?
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52 sats \ 1 reply \ @ama 30 Dec 2024
Do you actually transact in liquid?
Not really. I just use it to send sats on LN though Boltz exchange to L-BTC to stack them.
What are its best use cases?
Moving sats from LN to L-BTC and back.
Drawbacks and advantages( beyond custodial to block stream)?
The main advantage (to me) is that fees are much cheaper than sending to BTC on chain. But now that fees to RSK are getting cheaper on Botlz exchange, I'll be using RSK instead of Liquid
Do you just ignore the stable coins, or do you accept that stable coins can play a part in the bitcoin ecosystem?
I ignore them, except for DoC on RSK, which I'd accept if somebody offered to me. I'd convert them to rBTC immediately, though.
Mow argues that ignoring stable coins hurts bitcoin adoption. Do you agree, or is this just shitcoinery?
Probably not as a store of value, but maybe as a medium of exchange. BTC backed by Bitcoin, like DOC on RSK, might be not such a bad idea since there is so much demand for stable coins at the moment.
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41 sats \ 0 replies \ @DarthCoin 30 Dec 2024
Moving sats from LN to L-BTC and back.
useless and idiotic
I'll be using RSK instead of Liquid
another useless crap
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41 sats \ 0 replies \ @mdominicorobin24 31 Dec 2024
Number 1 - I was able to stack only a little over 10000 SATS but I have to test the waters so I wasted a little over 700 SATS just by transferring Liquid Bitcoin.
Number 2 - If you are starting to stack SATS you have no choice but use Liquid to stay anonymous besides Liquid is a hot wallet so Liquid offers anonymity to noobs and veterans alike.
Number 3 - Aqua offers more advantage to wallets with one thousand SATS than Blocktream Green Wallet since Blocktream Green charges the highest amount of fees while AQUA offers the lowest when transferring from one generic liquid wallet to another.
Number 4 - Stable coins are for the weak hearted people. I ignore them.
Number 5 - I totally disagree with Mow. Why would I involve myself with Stable coins. Most Stablecoins are worthless. Everything else is just smart contract data ready for rugpull.
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41 sats \ 0 replies \ @bordalix 31 Dec 2024
I don’t want to worry about managing my own Lightning node (channel balancing, liquidity, uptime, watch towers, etc) and I worry about having my sats on Wallet of Satoshi (the risk of being rug pulled is immense) so in that sense Aqua delivers a good balanced solution for my worries.
Having said that, Aqua has more coins that I’m not interested in, which makes it not the easier “Lightning wallet” to use. So I decided to make Helm Wallet, a Liquid wallet that uses Boltz submarine swaps to disguise itself as a Lightning wallet that even your grandma can use.
It's a PWA, which means it is immune to app store censorship. The web app is completely independent, no server required. You can clone it, build it and run it from your own computer. Everything runs on the browser.
You can use Tor to hide your IP address from Boltz and the chain explorers.
You can try it (testnet is available) on:
https://helm-wallet.com/
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41 sats \ 0 replies \ @standard_sats 31 Dec 2024
Yes. One of our hedging models assumes having reserves of Fiat channels in Stables and they are USDT on liquid. These stables are further being lent out short term.
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41 sats \ 5 replies \ @Skipper 30 Dec 2024
There are no good Liquid wallets and use cases, so the adoption will remain at zero.
I'm not big fan of Liquid anyways, and Samson is a shitcoiner pretending to care about Bitcoin.
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51 sats \ 4 replies \ @DarthCoin 30 Dec 2024
The only single user is BTC sessions shilling Liquid LOL
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0 sats \ 3 replies \ @Skipper 30 Dec 2024
Where can i get steal all your memes
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121 sats \ 2 replies \ @DarthCoin 30 Dec 2024
Create your own collections on postimg.cc is easier to share the links and have them always at hand.
Bitcoin related (updating it when I get good ones) https://postimg.cc/gallery/McwBvpF
Darth related https://postimg.cc/gallery/FYHXtWM
SN related https://postimg.cc/gallery/L1BNvHT
And I have a dedicated section on my substack with short memes explained: https://darthcoin.substack.com/s/darthcoin-memes
And I have more "collections" but not to share publicly.
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0 sats \ 1 reply \ @Skipper 30 Dec 2024
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77 sats \ 0 replies \ @DarthCoin 30 Dec 2024
this is @nemo... if you didn't meet him until now
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